Palvella Therapeutics (NASDAQ:PVLA) Director Sells $935,202.64 in Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 7,174 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $130.36, for a total transaction of $935,202.64. Following the transaction, the director directly owned 139,790 shares in the company, valued at approximately $18,223,024.40. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Performance

NASDAQ PVLA traded down $5.93 during trading on Wednesday, hitting $122.58. 382,261 shares of the company’s stock traded hands, compared to its average volume of 237,043. The stock has a fifty day moving average of $146.74 and a two-hundred day moving average of $134.32. Palvella Therapeutics, Inc. has a 12-month low of $68.96 and a 12-month high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.35). On average, equities analysts forecast that Palvella Therapeutics, Inc. will post -6.40 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in shares of Palvella Therapeutics in the 1st quarter worth about $28,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Palvella Therapeutics during the second quarter valued at about $35,000. Archer Investment Corp purchased a new position in shares of Palvella Therapeutics during the second quarter valued at about $69,000. Quantbot Technologies LP bought a new position in Palvella Therapeutics in the second quarter worth about $71,000. Finally, Arizona State Retirement System raised its stake in Palvella Therapeutics by 30.9% in the second quarter. Arizona State Retirement System now owns 2,765 shares of the company’s stock worth $423,000 after buying an additional 652 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PVLA has been the subject of several recent analyst reports. HC Wainwright lowered their price objective on shares of Palvella Therapeutics from $270.00 to $246.00 and set a “buy” rating for the company in a research note on Monday. Chardan Capital initiated coverage on Palvella Therapeutics in a research report on Monday, September 21st. They set a “buy” rating and a $240.00 price target for the company. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Finally, Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $207.43.

About Palvella Therapeutics

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare and serious diseases. The company’s work centers on localized treatments intended to address conditions for which existing therapeutic options are limited.

Palvella’s lead investigational product is QTORIN 3.9%, a topical formulation of sirolimus designed to deliver the medicine directly to affected areas of the skin. The product is being developed for microcystic lymphatic malformations, rare vascular anomalies that can cause swelling, pain and disfigurement.